Cable Update (GBPUSD)

Colored Bubbles.

Not unlike last week, a lot of traders are under the same assumption that we have sold off enough, and it is time to start buying up the chart. As far as things go, this might be what is happening, but lets not lose sight of the other side of the coin.

What if?

Okay, what if we gap down on market?
What if we gap up?

What ranges are we really trading.

There have been a lot of reasonable assumptions for topside target ranges, and I am glad that so far nobody has started posting the 1.6ish target ranges, really, small steps. IF we make it to next support, will it hold and where do we go from there is infinitely a better strategy than buying every spike down hoping to make a zillion pips by owning the bottom of the market.

A couple of charts for you to look at, and realize that what we may be seeing here, could be just colored bubbles. Does price have to keep rising?

The 4hr chart shows support on the 24SMA, the trade that we seen on the London to NY sessions crossover. The 200EMA on the 1hr is what proved to be the interm top. K, so now lets just have a looksie at the 1hr 200EMA, and check it's performance over the most immediate span of the market.

Do you see what I see?

We may cross this line, we may still go up, as long as you keep in mind that this could be top and are willing to adjust your trades and positions accordingly, you stand a better chance at this weeks prosperity.

ASSUME nothing. We are still in a long trend bear market and might have already seen the beginning of the end of this bullish leg.

Best of the week to you all!

Sarkozy Says EU Must Back Greece or Jeopardize Euro (Update1)
By John Fraher and Lorenzo Totaro


http://www.bloomberg.com/apps/data?p...d=iggHVLPLAeM4

March 7 (Bloomberg) -- French President Nicolas Sarkozy said the European Union must support Greece or risk destroying the euro as Prime Minister George Papandreou heads for Paris to lobby support for the debt-laden country.

“If we created the euro, we cannot let a country fall that is in the eurozone,” said Sarkozy yesterday before a meeting with Papandreou in Paris today. “Otherwise there was no point in creating the euro. We must support Greece because they are making an effort.”

EU leaders have so far refused to give financial aid to Greece and have ordered the government to cut its budget deficit, the EU’s highest, on its own. While Papandreou says steps taken this past week to slash the shortfall warrant more help from the EU, German Foreign Minister Guido Westerwelle said yesterday that his country is “not going to write a blank check.”

Papandreou is visiting Berlin, Paris and Washington after his government passed a 4.8 billion euro ($6.5 billion) austerity package on March 5. A poll published in To Vima newspaper today showed 51.9 percent of voters support him even after the cuts, compared with 47.5 percent who don’t.

Sarkozy, who didn’t say financial support would be forthcoming, will meet Papandreou in the Elysee Palace around 6 p.m. local time. They will brief reporters afterwards.

European Monetary Fund?

German Chancellor Angela Merkel is rebuffing any talk of a rescue even as EU nations are said to be working on a contingency bailout plan for Greece to be funded by member governments. Her finance minister, Wolfgang Schaeuble, told Welt am Sonntag today that officials should work on creating a European organization similar to the International Monetary Fund to prevent a repeat of the crisis.

Papandreou on March 4 announced a package of tax increases and spending cuts that helped the government to sell 5 billion euros of bonds the next day, signaling that its funding crisis has abated for now. The poll in To Vima today showed 47.9 percent of those questioned disagreed overall with the austerity moves, while 46.6 percent approved of it.

A total of 86.9 percent said the measures would provoke social unrest, the poll showed. Asked if they would vote to leave the euro zone and return to using the drachma, 63 percent said they wouldn’t. Kapa Research surveyed 1,044 people on March 4. The margin of error is three percentage points.

Final Resort?

Papandreou is indicating that Greece may still need financial support and is prepared to turn to the IMF if necessary, calling it a “final resort” on March 3.

That prompted a rebuff from European Central Bank President Jean-Claude Trichet a day later because finance officials fret such a move would signal the EU isn’t capable of solving its own problems. Italian Finance Minister Giulio Tremonti is nevertheless refusing to rule out a role for the IMF in any aid package.

“The IMF should act as a bank” in any rescue, he told reporters in Venice yesterday. “We finance the IMF so it can use the funds around the world. Why not use that capital with the IMF acting as a bank with its know-how?”
Tremonti also said that the EU could issue “eurobonds” or coordinate the sale of euro-denominated government bonds to better counter
“financial speculation.”

As Greece calls for more help, Merkel on March 5 turned her focus to restricting the use of derivatives to halt “speculators” from exploiting countries’ budget deficits. Greece has done its work and Europe and the U.S. must now ensure that financial-market speculators aren’t allowed to inflict further damage on Greece or on other countries, she said.

Neighbor’s House

“Credit-default swaps, where you insure your neighbor’s house just to destroy it and make money from it, that’s exactly what we have to curb,” Merkel said at a joint press conference in Berlin yesterday with Papandreou.

The Greek prime minister said he will fight to ensure speculators don’t undermine his push to restore order to the country’s economy. It’s unjust and undemocratic that his efforts are being undermined “by some ‘kids’ in New York and elsewhere sitting in front of a computer,” he said yesterday.

To contact the reporters on this story: Lorenzo Totaro in Rome at [email protected]
Last Updated: March 7, 2010 06:51 EST

>> http://www.bloomberg.com/apps/news?p...d=aePSFgrlaMiYhttp://www.bloomberg.com/apps/news?pid=20601087&
sid=aePSFgrlaMiY

Hey Guys, hope you have a nice and relaxing weekend. I have attached some charts, you may find some use of it. I believe that everyone has seen the dragonfly doji or pinbar on the weekly chart, hopefully a sign for a strong uptrend. The high and the low of this bar, as I marked it in red, were a support and resistance sometime ago, back in early 2009. I think we may see the price consolidating in this channel for a week or two before a strong downtrend or uptrend.
A confirmed breakout of the upper line and price reaching the blue coloured ellipse can lead to a nice uptrend. Respectively, a confirmed breakout of the bottom line and price into the red coloured ellipse, can lead to downtrend continuation, I believe the price will test 1.4000.
Good luck and be patient.

it's funny when I see posts or news about how bad speculation is...in fact speculation has it's advantages...

If a certain market—for example, pork bellies—had no speculators, then only producers (hog farmers) and consumers (butchers, etc.) would participate in that market. With fewer players in the market, there would be a larger spred between the current bid and ask price of pork bellies. Any new entrant in the market who wants to either buy or sell pork bellies would be forced to accept an illiquid market and market prices that have a large bid-ask spread or might even find it difficult to find a co-party to buy or sell to. A speculator (e.g., a pork dealer) may exploit the difference in the spread and, in competition with other speculators, reduce the spread, thus creating a more efficient market.

Speculators also sometimes perform a very important risk bearing role that is beneficial to society. For example, a farmer might be considering planting corn on some unused farmland. Alas, he might not want to do so because he is concerned that the price might fall too far by harvest time. By selling his crop in advance at a fixed price to a speculator, the farmer can hedge the price risk and is now willing to plant the corn. Thus, speculators can actually increase production through their willingness to take on risk.

try on demo back info plz

{ copyrighted attachments deleted by staff }

FIRST...... US President
SECOND... GREEK Prime Minister

And then Who's the NEXT ??

bro hope u had a nice weekend
whatever gos up come's down vise versa i will be watching may be will see cry's or ???? let enjoy the view green or red well hit the b;;;;;;;;h on the head and the tail

bro try this

those are the indi's

http://www.forexfactory.com/showpost...stcount=203950

Merkel? Lol now she is gonna scream about how she was right about oil speculators a couple years back, start to scream again for tobin tax and all kind of nonsense.

roommmmmmmmmm the cable now is 15120 on xe.

I keep on hearing in the big boys club, that cable is about to collapse, and UK economy is about to announce a bankrupty in about 2-3 days time...so becareful guys

looking at the monthly chart I see a retracement to the 1.56 level and further bear strength after that.

tasr check these out bro u might like

Forex market is a huge manipulative market..the strategy that plays out normally is to wipe out the Newbees first, then the short coverage upto 60% retracements...after that the real currency move will take shape...Hence, the next retracement move upto 1.57 is purely manipulation, and then a total collapse will take shape...so newbees, GET OUT BEFORE THEY GET YOU

wrong.
and what a load of bullshit. I don't know how much longer I can take this bullshit about manipulation, conspiracy theories etc etc. This entire forum is so full of this bullshit stories. Listen, manipulation by the big dogs makes the market. Rather than complain, embrace it. It makes the market tradeable. They are not after newbies, they are not after you PERIOD.
If you know the very thing about supply & demand you will know how absolutely silly you sound. Stop putting things into people's head. You and I are retail traders, THEY (whoever they are) are not after our money. We do not move the markets in a grand scale that THEY need to hunt us out. We are more than capable of shooting ourselves in the foot without THEM having to do anything with it. Don't believe me? ASK THOSE PEOPLE WHO WERE SHORTING CABLE BEFORE THE NFP LAST WEEK. THOSE WHO WERE SPEAKING OF ABSOLUTES, CABLE DOWN TO 1.47 BY NFP. MOST OF THEM WERE NOT EVEN NEWBIES! What a load of bollocks.
I get sick & tired of reading stuff like this, & stuff by some posters who posts about manipulation and bullshit like how the pros are doing this and doing that bla bla bla. Talk as if they are the pros, just to justify some trades gone bad. So who cares if a rise to 1.57 is manipulation. You? Just bloody go long wherever THEY take us what is so difficult??
Please stop posting shit like this & learn to trade

looooooooooooooool thank you

Fledglings (those new to this market) need to not be scared of the shyte that is peddled on forums. Most of these peddlers have something to sell...like a singl service, E-Book, some crappy course etc. So do not believe what an idiot just posted. FX cannot be manipulated. In fact no market can be manipulated for long. And thos who try to corner these markets pay by total financial rout.

just try to be in harmony with the market, and take care of money management and rest will fall in place eventually.

Personally, I feel forex is one of the most trendy markets there is. People say that fx is not tradable but that is mainly because of it being so de-central and TA not working as it normally does in equities.

big boys club my ass... who allowed him in FF

weekly pin looks bullish!